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28/05/2021

"Opportunities of the green economy"

The chairman of Iberdrola group, Ignacio Galán, reviews in an article published in Expansión about the opportunities presented by the green economy for a change of model.

"2021 is a decisive year for transforming the Recovery Plans and developing structural reforms as levers of a change that will breathe new life into our economy", he writes.

Galán said that, although the company has been taking firm steps for years, in recent years, the European Union has cemented its leadership in climate change, backed by regulatory changes that will achieve climate neutrality by 2050. And it has taken things further, orienting the Recovery Plan and its resources toward two specific areas: Decarbonisation - in 2030, Europe should have reduced its emissions by 55 % compared to 1990 - and the digital transformation.

The chairman of Iberdrola also underlines that the United States “is also firmly committed to being green, undertaking to reduce its emissions by up to 52% for 2030, with respect to 2005, which will demand a carbon-free energy mix by 2035”. And other leading economies, like United Kingdom and Japan are moving in the same direction, with ambitious objectives that require a new production model. These four economies, as you will remember, account for around 27 % of global greenhouse gas emissions.

"With governments in the main economies working in the same direction, pressure from markets and investors and citizen demand for more awareness and activism, companies have no option but to strengthen their strategies and measures to speed up the transformation", said Galán.

Galán summarised Iberdrola's strategy, which started out on this road decades ago, leading an energy transition in which it has invested €120 bn and driving a value chain made up of more than 22,000 suppliers, providing jobs for more than 400,000 people. "Thanks to the vision and committment of the last 20 years, our emissions are already three times lower than our competitors'.

Read the whole article in Expansión (page 168).